Recently, Huachen AI Parking Management Technology Holding Co., Ltd. (hereinafter referred to as "Huachen Technology"), the ultimate holding company of Zhejiang Huachen Technology Co., Ltd. from Pinghu City, Jiaxing, Zhejiang Province, updated its prospectus with the U.S. Securities and Exchange Commission (SEC), with stock ticker HCAI, planning to conduct an IPO and list on the NASDAQ in the United States. It previously filed confidentially with the SEC in the U.S. on December 19, 2023, and publicly disclosed its prospectus on August 14, 2024. Huachen Technology obtained the overseas issuance and listing filing notice (No. Guohan [2024] 317) from the Department of International Cooperation of the China Securities Regulatory Commission on February 6, 2024, planning to issue no more than 6 million ordinary shares and list on the NASDAQ in the United States. Huachen Technology was previously listed on the National Equities Exchange and Quotations (871560.NQ) and was officially delisted from the NEEQ on April 12, 2022. Prospectus link of Huachen Technology: https://www.sec.gov/Archives/edgar/data/1958399/000121390025006058/ea0228554-f1a3_huachenai.htm As a comprehensive intelligent parking solution and equipment structural parts supplier, Huachen Technology mainly provides customized parking solutions to optimize the efficiency of limited parking spaces, covering the design, manufacturing, sales, installation and maintenance of intelligent three-dimensional parking garages. To meet the different parking needs of customers, Huachen Technology manufactures and provides various three-dimensional parking garage products based on different working principles, such as lift-translation, convenient lift, vertical circulation, vertical lift, horizontal movement, roadway stacking, multi-layer circulation, horizontal circulation and car lift. In addition, its operating subsidiaries also provide design, repair and maintenance services to ensure the continuous functionality of parking solutions. Customers of its comprehensive parking solutions include government departments, hospitals, property management companies, real estate companies, institutions, residential communities and other enterprises with parking lots or garages. Relying on its production qualifications and market influence, the company's intelligent parking systems have solved the parking challenges in China's rapidly developing urban areas. Huachen Technology also provides equipment structural parts, including (i) product structural parts, (ii) garage structural parts, (iii) customized steel materials and load-bearing steel plates for three-dimensional parking equipment, and (iv) railway accessories. Customers of its equipment structural parts are industrial manufacturing companies, such as producers of mining conveyors, industrial conveyors, railway tracks and other products. According to the prospectus, in the pre-listing shareholder structure of Huachen Technology, its major shareholders include: Bin Lu, holding 63.17% of the shares through Huahao (BVI) Limited; Liping Zhu, holding 10.00% of the shares through Huayue (BVI) Holding Limited; Zixuan Chen, holding 9.53% of the shares through Huaxuan (BVI) Limited; Jinglu Li, holding 8.84% of the shares through Huamao (BVI) Limited; Yuejin Chen, holding 8.46% of the shares through Huajing (BVI) Limited. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Company is an onshore subsidiary of Hong Kong Meishun Management Consulting Company under the same actual controller. Both companies share the same ultimate controller, are managed under the same Chinese governance framework, and comply with the laws of Hong Kong and mainland China.